SCHEME OF EXAMINATION

There will be two papers - paper I and paper 2, both of which will be a composite paper to be taken in one sitting.
PAPER 1: Will consist of 50 compulsory multiple choice questions to be Answered in 50 minutes for 50 marks.
PAPER 2: Will consist of eight essay type question out of which candidates will be required to answer any five within 2 hours for 100 marks
  DETAILED SYLLABUS      S/NO CONTENTS NOTES      1. INTRODUCTION i. Definition of Commerce and E - Commerce    ii. History/Background of Commerce    iii. Scope of Commerce and E Commerce    iv. Functions of Commerce and E Commerce      2. OCCUPATION i. Meaning of Occupation    ii. Types;- Industrial, Commercial, Service    Occupation    iii. Factors that determine types of occupation /    employment    Career Opportunities       3. PRODUCTION i. Meaning    ii. Factors – land, labour, capital and    entrepreneurship    iii. Types:- Primary, Secondary and Tertiary    production    iv. Division of labour/specialization    - meaning    - types        - advantages and disadvantages,    - limitation    v. Inter-relationship between production and    exchange      4. BUSINESS UNITS i. Meaning and objectives of business    ii. Forms of business units    —  Sole proprietorship,    — Partnership,    — Co-operative Societies,    — Credit Union and Thrift Societies,    — Public enterprises,    — Companies -    iii. Types, Formation, characteristics,    comparison, advantages and disadvantages    iv. Sources of capital of each forms of business    v. Meaning and purpose of    - Amalgamations,    - Mergers and acquisitions    - Trust,    -  Holding companies and Subsidiaries    - Consortium and Cartel    vi. Dissolution/Liquidation of    Companies/Partnership.      5. TRADE ASSOCIATIONS Aims and functions of    i. Trade Association    ii. Chamber of Commerce, Employers    Association    iii. Consumer Association/Consumerism       6. BUSINESS CAPITAL i. Meaning and types -    AND PROFITS Authorized/Registered/Normal capital, called-    up, paid-up capital, capital owned,    liquid/circulating capital    ii. Credit - Meaning, Sources, Instrument and    Functions    iii. Calculation of working capital, the Importance    of working capital    iv. Profits - Meaning, types and calculation of    profit    v. Turnover - Meaning, calculations and factors    affecting turnover.      7. TRADE Purpose and branches of trade –    (a)   HOME TRADE Home Trade and Foreign Trade – Meaning &    Differences,    i. Retail trade:    Functions of retailer    -   Factors to consider in starting a retail    business    -   Reasons for success/failure of retail    business.    ii. Small scale and large scale retailing –    Types of Retail Outlets,    -   Unit shops, Stalls, Hawkers, Kiosks,    Mobile shops, Supermarket, Chain Stores,    Department Stores, Shopping malls,    Hypermarkets and Mail Order business    The main characteristics of each.    -   Advantages and disadvantages.     
- Modern trends in retailing – branding, self service, Vouchers. Vending machines, credit cards. 
iii. Wholesale trade - Functions of Wholesalers Types of Wholesalers. Factors. Merchant and agent Wholesalers 
iv. Factor making for elimination and survival of middlemen 
v. Channel of Distribution: Meaning, Types. 
Factors for choice of Channel 

(b) FOREIGN TRADE

i.   Meaning -
ii. Types: Import, export and entreport
iii. Basic concept in International trade - terms of trade, balance of trade, balance of payment - favourable, unfavourable, visible and invisible items, bilateral and multilateral agreements and counter trade
iv. Advantages and Disadvantages 
v. Barriers to Foreign trade – 
vi. Tariffs – Meaning 
Reason for tariffs, 
vii. Functions of port and Airports Authorities, Customs and Excise Authority and Shipping, Clearing and forwarding Agents. Exports promotion Council. 

8 PURCHASE AND SALE i. Procedure and documents used in business -    OF GOODS IN HOME Order, Indent, Consular Invoice, Ordinary    AND FOREIGN TRADE Invoice, Credit/Debit notes, Proforma Invoice,    Letter of hypothecation, documentary credit,    certificate of origin, certificate of inspection,    insurance certificate.    ii. Price Quotation - Trade discount, Cash    discount, Quantity discount, COD, CWO, CIF,    FOB, E & OE, Ex-works, LOCO, FAS, FOR    and Franco    iii. Terms of Payment: Cash/Spot Payment,    Purchase and deferred payment.    iv. Means of payment - Legal tender – (bank    notes and coins), cheques, standing order,    bank draft, stamps, postal-orders, money    orders, bills of exchange and promissory    Note, mail transfer, traveller’s cheques,    telegraphic transfer. Epayment      9. FINANCE AND i. Meaning    FINANCIAL ii. Evolution/History    INSTITUTIONS       A.  MONEY iii. Forms       iv. Qualities and functions.    i. Types of Banks - Central Bank, Commercial    Banks and other specialized banks e.g.    Development Bank, Mortgage Bank,    B.  BANKS Building Society, Micro finance institutions, -    their features and Functions.       Bureau-de-change (Meaning and    Functions)        ii. E. Banking –    Meaning,    forms - ATM, Money transfer -    E Payment – online transfer    iii.  Types of Accounts: Current, Savings and    Fixed Deposit Account - Their main features    i. Meaning and basic principles –    utmost good faith, insurable interest,    indemnity and subrogation, Contribution    and proximate cause    ii. Types of Insurance    a. life Insurance    C.  INSURANCE - Whole life Assurance       - Endowment    b. Non life Insurance    - Motor vehicle    - Fire    - Fidelity    - Burglary/Robbery/Theft    - Accidents    - Consequential Loss    - Marine    c. Types of Risk        i.   Insurable Risk e.g. fundamental risks    - Pure risk    - Particular risk    ii. Uninsurable risk    - speculative risk    d.  Importance of Insurance to business and    individual.    e. Procedure for taking an Insurance Policy.    f. Underwriting - meaning    g.  Re-insurance - Meaning and purpose    i. Meaning    ii. Functions    iii.  Methods of raising funds by companies - offer    for sale, offer for subscription, rights issue,    private placement, issue by tender    Second tier Security market    D. CAPITAL MARKET i. meaning and functions    ii. Advantages to Companies/Public    iii. Requirement for listing    i. Meaning and functions,    ii. Importance     

E. STOCK EXCHANGE (first tier) F. COMMODITY EXCHANGE10.TRANSPORT, TOURISM, COMMUNICATION and WAREHOUSING
iii. Transactions on the stock exchange 
iv. Speculators - Meaning and Types 
v. Types of Security - Shares, Stock, Bond gilt edge, debentures/Convertible loans 
i. Meaning 
ii. Types of tradable commodities 
iii. Requirements for trading - Grading, Standardizing, Warehousing, Clearing system 
iv. Method of Trading - open outcry and electronic mechanisms 
v. Benefit of Commodity exchange 
(i) Meaning 
(ii) Importance 
(iii) Choice of transport 
(iv) Forms 
(a) Land 
(b) Water 
(c) Air 
(d) Pipeline 
(v) Advantages and disadvantage of each form 
(vi) Documents - Waybills, Consignment note, tickets and manifest 

A. TRANSPORT,
B. TOURISM
C  COMMUNICATION
(i) Meaning 
(ii) Advantages and disadvantages 
(i) Meaning 
(ii) Types – Oral. Written, Visual, Non-verbal, Non-visual, Traditional, 
(iii) Advantages and Disadvantages 
(iv) Importance and services of Post Office 
(v) Courier Agencies and other communication agencies – Telephone system, satellite services, internet- E-mail 
(vi) Computer Appreciation 
- meaning, 
- component parts, 
- advantages and disadvantages. 
(i) Meaning 
(ii) Importance 
(iii) Functions 
(iv) Types 
(v) Advantages 
  D. WAREHOUSING      11. ADVERTISING (i) Meaning    (ii)Roles, advantages and disadvantages    (iii)Types - informative, persuasive,    Competitive, mass/specific    (iv)Methods - direct and indirect    (v)Media- meaning, choice and types      12 INTRODUCTION TO    MARKETING    A.  MARKETING (i) Meaning       (ii) Importance    (iii) Functions    (iv)   Differences between market and marketing,    market and marketing research.    The Marketing mix 4ps    B.  Marketing Concept (i) Meaning    (ii) Components    - Products,    - price,    - place and    - promotion  

(i) Meaning (ii) Importance 
Types – Pre and after sales services
(i) Meaning (ii) Methods 
Trade fairs, exhibitions, gifts, demonstration
Personal Selling
Meaning
  Importance    C.  Customer Services    D. Sales Promotion      13. LEGAL ASPECT OF (i) Contract    BUSINESS    - Meaning -    Areas of law that relate to - Elements of a valid contract       Business - Discharge of a contract       (ii) Agency    - Meaning    - Creation    -   Duties and responsibilities of principals    and agents    - Termination    (iii) Sales of goods Act    (iv) Hire Purchase Act    (v)   Rights and Obligations of employer and    Employee    (vi)  Government regulation of Business - patents,  

copyright. Trade mark
(vii) Registration of Business - Meaning and uses 
(i) Meaning 
(ii) Need for protection 
(iii) Means of protection 
(iv) Consumerism Meaning 
Means, Instrument of protection 
  Government Legislation - food and drugs Act    standard organization Act -   Price Control Act -    Factory, Shops and Offices Act – Product quality    Consumer Protection      14. Government policies    relating to business    A. Commercialsation (i) Meaning and Reasons       B. Privatisation (ii) Advantages and disadvantages       C. Deregulation (iii) Comparison/differences      15. INTRODUCTION TO i. Meaning    BUSINESS ii. Objectives of business       MANAGEMENT iii.  Meaning of Business Management       iv. Functions    v. Business Resources     - Man, Money, Materials Opportunities/Goodwill    vi. Structure of Business organizational setup    Organisational chart, Departments, Functions    of each, Authority, Delegation of Authority    -  Responsibility Span of Control    Meanings    vii.  Business and its environment Economical    -   Political Competition Technological etc    viii. Social responsibility of Business to the Society    ix.  Importance of Inter and Intra departmental    communications      16. ECONOMIC i.  History    GROUPINGS ii.  .  Membership       A. ECOWAS iii.  .  Objectives       B NIGER BASIN   .    iv.  Achievements    COMMISSION (NBC)    C. LAKE CHAD BASIN v.  Problems/Obstacles       COMMISSION (LCBC)    D.  MANO-RIVER UNION    E.  EUROPEAN UNION    F.  WEST AFRICAN    CLEARING HOUSE      RECOMMENDED TEXTBOOKS
i. Senior Secondary Commerce, Book One, two and three by M. O. Odedokun, P. C. Udokogu and C. O. N. Oguji. 
ii. Basic Marketing- McCarthy Jerome, E. , William Perreault Jr. 
iii. Marketing – G. B. Giles ( The M & E hand book services) 
iv. Consumer Behaviour – Prof. Achumba ( University of Lagos)